Oil Rises on Middle East Worries, Venezuela Woes
Geopolitics not fundamentals lift prices, but relentless rise in U.S. crude output caps gains. Oil rose on Tuesday to its highest level so far this month, lifted by tension in the Middle East and the possibility of further falls in Venezuelan output.
Oil at Highest Level since June 2015
Iran unrest expected to keep prices firm; but U.S. expected to see its output pass 10 mln bpd. Oil prices rose on Wednesday to new two-and-a-half year highs as robust output in the United States and Russia balanced tensions from a sixth day of unrest in OPEC member Iran. U.S.
Financial Oil Trading Booms, Especially in U.S.
WTI front-month trading volumes far higher than for Brent; boost comes as U.S. shale drillers hedge oil production. Financial oil trading is booming, hitting records this year, with volumes in U.S. contracts outpacing growth elsewhere on the back of the U.S. shale oil boom.
Oil Climbs, But Headed for Weekly Loss
OPEC to meet on Nov. 30 to discuss policy. Oil prices climbed on Friday but were still heading for their first week of losses in six, weighed down by Russian hesitation for extending a global pact to cut output and curb oversupply.
Harvey Produces Rare Jet Fuel Exports to U.S.
Traders are shipping jet fuel from Europe to the United States, where Tropical Storm Harvey has sparked concern over possible shortages of the aviation fuel. French oil major Total has booked the Maersk Misumi and Butterfly to load 37…
Oil Climbs as Demand Absorbs Glut
OPEC-shale "tug of war" keeps market fairly range-bound. Oil rose on Tuesday as demand soaked up some of the surplus supplies from OPEC and the United States, but traders said the market was trading in a tight range and showed few signs of big short term moves.
Oil Slides as U.S. Pumps More
Brent, WTI prices drop about 1 percent. U.S. rig count gains for 13th consecutive week. Crude oil slid lower on Monday on signs that the United States is continuing to add output, largely counteracting strong economic growth in China and OPEC efforts to cut production.
Weaker Dollar, Saudi Ouput Pledge Propels Oil
Saudi commitment to cut output supports crude prices; investors doubt prices will rise further. Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Gains were capped by rising U.S.
Oil Steadies After Weaker Dollar Weighs
Dollar slips against major currencies; U.S., Canada drilling activity rises. Oil prices stabilised on Tuesday after a sharp sell-off as a fall in the dollar triggered a bout of short-covering, but analysts said the market remained vulnerable to further falls.
Oil Steady in Slow Pre-Holiday Trading
Saudi Oct crude exports dropped, but refined fuel exports rose. Asian refining capacity to jump next year. Oil prices were steady on Tuesday in timid trading ahead of the year-end holidays, with investors beginning to unwind…
Oil Falls as Speculators Cool on Crude, US Drillers Add Rigs
Oil prices fell for a second day running on Monday, driven lower by evidence of speculators cooling towards crude and after U.S. drillers added more rigs for a tenth week running. Brent crude futures were down 60 cents at $47.41 a barrel by 1352 GMT…
Oil Falls as U.S. Drills More
Brent, WTI prices down by over 1.5 percent; speculators cut long holdings, cash in on rally. Oil was on course for its largest two-day fall since late June on Monday, after speculators delivered hefty cuts to their bullish bets last week and U.S.
Oil Steadies as IEA sees Balanced Market
World oil stocks near record highs; Saudi production rises to record 10.67 million bpd in July. Oil prices steadied on Thursday after the International Energy Agency forecast crude markets would rebalance in the next few months following several years of heavy overproduction.
Oil Traders bid Fond Farewell to Yahoo Messenger
As European and American markets open on Friday, oil traders face a new era with Yahoo Messenger, the main tool used by traders to communicate since the late 1990s, shutting down. While the software was still operating and actively in use during Asian hours on Friday…
